The USD/JPY resumes the decline – Analysis – 15/07/2021

uasd-jpyThe USDJPY pair bounced downwards clearly after consolidating below the broken support of the bullish channel, getting continuous negative pressure coming by the EMA50, which supports the continuation of the bearish trend scenario on the intraday basis, waiting to test 109.22 as a first station.

Note that breaking the mentioned level will press on the price to achieve additional decline that targets 107.70 areas, while the expected decline will remain valid unless breaching 110.60 and holding above it.

The expected trading range for today is between 109.20 support and 110.40 resistance

The expected trend for today: Bearish

Origin: Economies

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